REG - Wildcat Petroleum - Annual Financial Report (Summary)

Wildcat PetroleumAnnouncement

31/10/2024 15:15

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RNS Number : 4692K  Wildcat Petroleum PLC  31 October 2024

31 October 2024

Wildcat Petroleum Plc

("Wildcat", "WCAT" or the "Company")

Annual Financial Results

Wildcat Petroleum Plc ("WCAT" or "the Company") a company targeting investment
opportunities in businesses and assets within the upstream sector of the
petroleum industry is pleased to announce the publication of its audited
Annual Report and Accounts for the year ended 30 June 2024 ("FY24").

Financial Highlights:

·    Current assets of £290,547 as at 30 June 2024 (FY23: £153,503);

 

·    Cash balance of £286,573 as at 30 June 2024 (FY23: £135,765);

 

·    Net assets of £253,196 30 June 2024 (FY23: £107,975); and

 

·    Loss before taxation for the year ended 30 June 2024 of £255,288
(FY23: Loss of £261,997).

 

Operational Highlights:

·    In February 2024, the Company announced that it had passed a due
diligence process conducted by the South Sudanese Ministry of Petroleum
("MOP"). The clearance from the MOP being required before Wildcat could
undertake any petroleum deal in the country including the purchase of
large-scale oil production;

 

·    In May 2024, the Company signed a Memorandum of Understanding ("MOU")
with the South Sudanese Ministry of Petroleum ("MOP") in regard to a possible
service contract (Production Sharing Service Agreement) over proven oil
assets; and

 

·    In September 2024, the Company signed an MOU with the South Sudanese
national oil company Nilepet, to collaborate together for acquiring the assets
held by the PETRONAS group. Wildcat continues to work with the MOP and
Nilepet, positioning Wildcat with a great opportunity to acquire oil producing
assets in the region.

Post Year End

·    Fund raise of £156,000 before expenses (£145,000 net of expenses)
via a placing of new shares announced 25 October 2024.

 

In compliance with UK Listing Rule 13.3.9, a copy of the Annual Financial
Report has been submitted to the FCA and will shortly be available for
inspection from the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. It will also be loaded
onto Wildcat's website: www.wildcatpetroleum.co.uk
(http://www.wildcatpetroleum.co.uk)

 

Enquiries:

 Wildcat                   msingh@wildcatpetroleum.co.uk

 Mandhir Singh
 Guild Financial Advisory  ross.andrews@guildfin.co.uk

 Ross Andrews

Notes to Editors:

Wildcat Petroleum (LSE:WCAT) is listed on the standard segment of the official
list, with shares traded on the main market of the London Stock Exchange. WCAT
is seeking to acquire projects or a business operating in the upstream sector
of the petroleum industry - namely exploration, appraisal, development and
production of oil and gas, with a primary focus on assets that are at the
later phases of exploration and production.

https://www.wildcatpetroleum.co.uk/ (https://www.wildcatpetroleum.co.uk/)

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